Magnolia Oil & Gas Co. (MGY) To Go Ex-Dividend on February 14th

Magnolia Oil & Gas Co. (NYSE:MGY) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.15 per share on Monday, March 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13.

Magnolia Oil & Gas has raised its dividend payment by an average of 86.6% annually over the last three years. Magnolia Oil & Gas has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Magnolia Oil & Gas to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 28.8%.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $23.79 on Wednesday. The firm has a fifty day simple moving average of $24.64 and a two-hundred day simple moving average of $25.34. The firm has a market cap of $4.68 billion, a PE ratio of 11.78, a P/E/G ratio of 2.85 and a beta of 1.98. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 1-year low of $20.08 and a 1-year high of $29.02.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.